PenderFund Capital Management Ltd.
Sector Allocation
- Technology35.6%$277.6M
- Materials11.4%$88.8M
- Consumer Discretionary11.2%$87.5M
- Utilities10.1%$78.9M
- Energy8.6%$67.2M
- Other6.2%$48.5M
- Healthcare5.5%$42.9M
- Industrials4.4%$34.2M
- Financials4.4%$34.0M
- Communication Services1.7%$13.1M
AUM History
13fpro.ai/research/fund/penderfund-capital-management-ltd-1706164
Conviction and streaks
Diversifying · top 10 = 52.1%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NOG
$64.9MFLNC
$60.9MAG
$48.4MVERX
$44.8MWOLF
$40.7MSO
$33.1MEVH
$31.5MBABA
$29.5MNIO
$26.9M- $25.7M
PPL
$25.2MEQX
$20.5M- $19.0M
SANG
$16.7MCDLX
$15.5M- TEUCRIUM$15.3M
PAR
$14.4M- $14.2M
- TEUCRIUM$13.5M
OPK
$12.8M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/penderfund-capital-management-ltd-1706164
PenderFund Capital Management Ltd. 13F holdings — Q2 2026
$780.1M portfolio (+22.2% QoQ) · 231 holdings · Q2 2026 13F · top 10 are 52% of the stock portfolio
$64.9M
8.3% of stocks
+51%This quarter+11.6%Since filed4 qtrsHeldAIQuality42.6#2,000Est. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row$60.9M
7.8% of stocks
+27%This quarter-56.5%Since filed3 qtrsHeldAIQuality41.4#2,048Est. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$48.4M
6.2% of stocks
No changeThis quarter-24.1%Since filed10+ qtrsHeld$44.8M
5.7% of stocks
NewThis quarter+21.6%Since filedNew this quarterHeld$40.7M
5.2% of stocks
-9%This quarter-33.1%Since filed7 qtrsHeld$33.1M
4.3% of stocks
No changeThis quarter+0.3%Since filed5 qtrsHeld$31.5M
4.0% of stocks
No changeThis quarter+2.7%Since filed4 qtrsHeldAIQuality26.0#2,606Est. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row$29.5M
3.8% of stocks
+400%This quarter-19.6%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$26.9M
3.5% of stocks
-9%This quarter-29.1%Since filed6 qtrsHeld$25.7M
3.3% of stocks
No changeThis quarter-29.1%Since filed6 qtrsHeld
All holdings — PenderFund Capital Management Ltd. (Q2 2026)
231 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | PPL Corpnote | Utilities | $25.2M | 3.2% | 22.00M | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Equinox Gold Corp.note | Materials | $20.5M | 2.6% | 12.08M | — | 8 qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Evolent Health, Inc. | Technology | $19.0M | 2.4% | 23.37M | +51% | 4 qtrsAdded 4 qtrs in a row | 26.0 | 13F | |
| 14 | Sangoma Technologies Corp | Technology | $16.7M | 2.1% | 4.39M | +55% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Cardlytics, Inc.note | Technology | $15.5M | 2.0% | 53.80M | +13% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | — | TEUCRIUM COMMODITY TR - WHEAT FD | — | $15.3M | 2.0% | 696K | New | — | — | 13F |
| 17 | PAR TECHNOLOGY CORPnote | Technology | $14.4M | 1.8% | 15.00M | +200% | 10+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | PAR TECHNOLOGY CORP | Technology | $14.2M | 1.8% | 812K | — | 10+ qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | — | TEUCRIUM COMMODITY TR - CORN FD SHS | — | $13.5M | 1.7% | 804K | — | — | — | 13F |
| 20 | OPKO HEALTH, INC.note | Healthcare | $12.8M | 1.6% | 8.49M | +16% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Meritage Homes CORPnote | Industrials | $12.5M | 1.6% | 12.00M | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Esperion Therapeutics, Inc. | Healthcare | $12.3M | 1.6% | 3.88M | -0.2% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | abrdn Platinum ETF Trustetf/fund | Financials | $11.3M | 1.4% | 800K | +400% | 10+ qtrsTrimmed 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Telesat Corp | Communication Services | $11.0M | 1.4% | 225K | -39% | 5 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | iRhythm Holdings, Inc.note | Healthcare | $10.2M | 1.3% | 9.26M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $SO | SOUTHERN CO | Utilities | $10.1M | 1.3% | 10.00M | New | |||
| 27 | $WIW | WESTERN ASSET INFLATION-LINKED OPPORTUNITIES & INCOME FUND | Other | $8.4M | 1.1% | 999K | -2% | |||
| 28 | $TXNM | TXNM ENERGY INC | Utilities | $7.7M | 1.0% | 5.90M | — | |||
| 29 | $MDA | MDA Space Ltd. | Industrials | $7.6M | 1.0% | 184K | -58% | |||
| 30 | $BMM | Blue Moon Metals Inc. | Materials | $7.5M | 1.0% | 1.18M | +108% | |||
| 31 | $OMCL | OMNICELL, INC. | Technology | $3.6M | 0.5% | 3.35M | New | |||
| 32 | $EDD | Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. | Other | $3.0M | 0.4% | 505K | +26% | |||
| 33 | $HSLV | Highlander Silver Corp. | Materials | $2.8M | 0.3% | 588K | — | |||
| 34 | $CART | Maplebear Inc. | Industrials | $2.7M | 0.3% | 56K | +0.1% | |||
| 35 | $SARO | StandardAero, Inc. | Industrials | $2.5M | 0.3% | 82K | +0.9% | |||
| 36 | — | TEUCRIUM COMMODITY TR - SOYBEAN FD | — | $2.4M | 0.3% | 100K | — | |||
| 37 | $KKR | KKR & Co. Inc. | Financials | $2.4M | 0.3% | 27K | -10% | |||
| 38 | $AGRO | Adecoagro S.A. | Consumer Staples | $2.4M | 0.3% | 250K | — | |||
| 39 | $FLR | FLUOR CORP | Industrials | $2.4M | 0.3% | 45K | +0.5% | |||
| 40 | $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | Industrials | $2.3M | 0.3% | 27K | New | |||
| 41 | $DLTR | DOLLAR TREE, INC. | Consumer Staples | $2.3M | 0.3% | 19K | +0.6% | |||
| 42 | $GNRC | GENERAC HOLDINGS INC. | Technology | $2.2M | 0.3% | 7,570 | -30% | |||
| 43 | $DECK | DECKERS OUTDOOR CORP | Consumer Discretionary | $1.9M | 0.3% | 19K | -8% | |||
| 44 | $ADUS | Addus HomeCare Corp | Healthcare | $1.9M | 0.2% | 18K | +0.1% | |||
| 45 | $NXE | NexGen Energy Ltd. | Materials | $1.8M | 0.2% | 196K | -25% | |||
| 46 | $CLVT | CLARIVATE PLC | Technology | $1.8M | 0.2% | 830K | -25% | |||
| 47 | $STNE | StoneCo Ltd. | Technology | $1.7M | 0.2% | 157K | +57% | |||
| 48 | $MSFT | MICROSOFT CORP | Technology | $1.5M | 0.2% | 3,900 | +70% | |||
| 49 | $AMZN | AMAZON COM INC | Consumer Discretionary | $1.5M | 0.2% | 6,100 | New | |||
| 50 | $IFF | INTERNATIONAL FLAVORS & FRAGRANCES INC | Materials | $1.4M | 0.2% | 18K | +0.2% | |||
| 51 | $ISOU | IsoEnergy Ltd. | Materials | $1.4M | 0.2% | 139K | -4% | |||
| 52 | $EVR | Evercore Inc. | Financials | $1.3M | 0.2% | 3,916 | +26% | |||
| 53 | $SHOP | SHOPIFY INC. | Technology | $1.3M | 0.2% | 11K | -13% | |||
| 54 | $MRVI | MARAVAI LIFESCIENCES HOLDINGS, INC. | Healthcare | $1.3M | 0.2% | 205K | — | |||
| 55 | $BN | BROOKFIELD Corp /ON/ | Real Estate | $1.3M | 0.2% | 29K | -18% | |||
| 56 | $CPRT | COPART INC | Consumer Discretionary | $1.2M | 0.2% | 44K | New | |||
| 57 | $BELFA | BEL FUSE INC /NJ | Technology | $1.2M | 0.1% | 4,100 | +52% | |||
| 58 | $AEM | AGNICO EAGLE MINES LTD | Materials | $1.1M | 0.1% | 7,302 | New | |||
| 59 | $GTLS | CHART INDUSTRIES INC | Industrials | $1.1M | 0.1% | 5,400 | +74% | |||
| 60 | $GS | GOLDMAN SACHS GROUP INC | Financials | $1.1M | 0.1% | 1,100 | New | |||
| 61 | $ATS | ATS Corp /ATS | Industrials | $1.1M | 0.1% | 38K | +89% | |||
| 62 | $BAH | Booz Allen Hamilton Holding Corp | Technology | $1.1M | 0.1% | 18K | +0.4% | |||
| 63 | $BEPC | Brookfield Renewable Corp | Utilities | $1.0M | 0.1% | 30K | — | |||
| 64 | $CVE | CENOVUS ENERGY INC. | Energy | $992K | 0.1% | 40K | — | |||
| 65 | $APH | AMPHENOL CORP /DE/ | Technology | $987K | 0.1% | 5,600 | — | |||
| 66 | $BTE | BAYTEX ENERGY CORP. | Energy | $972K | 0.1% | 242K | New | |||
| 67 | $CAT | CATERPILLAR INC | Industrials | $958K | 0.1% | 900 | — | |||
| 68 | $HXL | HEXCEL CORP /DE/ | Materials | $913K | 0.1% | 9,121 | -29% | |||
| 69 | $WRN | Western Copper & Gold Corp | Materials | $900K | 0.1% | 401K | +116% | |||
| 70 | — | WESTERN ASSET INFLT LNK INC - COM SH BEN INT | — | $843K | 0.1% | 104K | — | |||
| 71 | $MKL | MARKEL GROUP INC. | Financials | $822K | 0.1% | 421 | -19% | |||
| 72 | $DMII | Drugs Made In America Acquisition II Corp. | Financials | $800K | 0.1% | 80K | +60% | |||
| 73 | $GDOT | GREEN DOT CORP | Financials | $798K | 0.1% | 59K | +23% | |||
| 74 | — | FOREFRONT TECHNOLOGY HOLDING - UNIT 04/30/2031 | — | $765K | 0.1% | 75K | New | |||
| 75 | $USAS | Americas Gold & Silver Corp | Materials | $757K | 0.1% | 160K | +500% | |||
| 76 | $DHR | DANAHER CORP /DE/ | Healthcare | $752K | 0.1% | 3,946 | -16% | |||
| 77 | $BIDU | Baidu, Inc. | Technology | $743K | 0.1% | 6,500 | -14% | |||
| 78 | $JHG | Janus Henderson Group Ltd. | Financials | $722K | 0.1% | 14K | +60% | |||
| 79 | $GSAT | Globalstar, Inc. | Communication Services | $707K | 0.1% | 8,700 | New | |||
| 80 | $EVAC | EQV Ventures Acquisition Corp. II | Financials | $674K | 0.1% | 66K | +227% | |||
| 81 | $SEM | SELECT MEDICAL HOLDINGS CORP | Healthcare | $670K | 0.1% | 41K | +41% | |||
| 82 | — | SPDR SERIES TRUST - ST STR SP REGBNK | — | $662K | 0.1% | 8,850 | New | |||
| 83 | $HVMC | Highview Merger Corp. | Financials | $649K | 0.1% | 64K | +255% | |||
| 84 | $WSR | Whitestone REIT | Real Estate | $609K | 0.1% | 32K | New | |||
| 85 | $OGN | Organon & Co. | Healthcare | $608K | 0.1% | 45K | New | |||
| 86 | $CCO | Clear Channel Outdoor Holdings, Inc. | Technology | $603K | 0.1% | 249K | +63% | |||
| 87 | $TBRG | TruBridge, Inc. | Technology | $582K | 0.1% | 22K | New | |||
| 88 | $NATL | NCR Atleos Corp | Technology | $573K | 0.1% | 13K | +23% | |||
| 89 | $WENN | WEN Acquisition Corp | Financials | $571K | 0.1% | 55K | +215% | |||
| 90 | $MCAH | Mountain Crest Acquisition 6 Corp. | Financials | $561K | 0.1% | 55K | New | |||
| 91 | $CPRX | CATALYST PHARMACEUTICALS, INC. | Healthcare | $559K | 0.1% | 18K | New | |||
| 92 | $KORE | KORE Group Holdings, Inc. | Communication Services | $556K | 0.1% | 60K | +16% | |||
| 93 | $SOUL | Soulpower Acquisition Corp. | Financials | $507K | 0.1% | 49K | +63% | |||
| 94 | $WCN | Waste Connections, Inc. | Utilities | $500K | 0.1% | 3,000 | — | |||
| 95 | $MBVI | M3-Brigade Acquisition VI Corp. | Financials | $492K | 0.1% | 49K | +368% | |||
| 96 | $AFBI | Affinity Bancshares, Inc. | Financials | $485K | 0.1% | 21K | New | |||
| 97 | $SZZL | Sizzle Acquisition Corp. II | Financials | $478K | 0.1% | 46K | +6% | |||
| 98 | $IAG | IAMGOLD CORP | Materials | $471K | 0.1% | 30K | New | |||
| 99 | $TXNM | TXNM ENERGY INC | Utilities | $466K | 0.1% | 8,200 | +52% | |||
| 100 | $WBD | Warner Bros. Discovery, Inc. | Communication Services | $464K | 0.1% | 17K | -22% | |||
| 101 | $WPM | Wheaton Precious Metals Corp. | Materials | $416K | 0.1% | 3,700 | -50% | |||
| 102 | $XENE | Xenon Pharmaceuticals Inc. | Healthcare | $413K | 0.1% | 6,850 | — | |||
| 103 | $AVNS | AVANOS MEDICAL, INC. | Healthcare | $413K | 0.1% | 17K | New | |||
| 104 | $AES | AES CORP | Utilities | $408K | 0.1% | 28K | +70% | |||
| 105 | $TVAI | Thayer Ventures Acquisition Corp II | Financials | $401K | 0.1% | 39K | +8% | |||
| 106 | $KVAC | Keen Vision Acquisition Corp. | Financials | $396K | 0.1% | 32K | New | |||
| 107 | — | X3 ACQUISITION CORP LTD - ORD SHS CL A | — | $392K | 0.1% | 39K | +161% | |||
| 108 | $NPAC | New Providence Acquisition Corp. III/Cayman | Financials | $390K | 0.1% | 38K | +196% | |||
| 109 | $PACH | Pioneer Acquisition I Corp | Financials | $390K | 0.1% | 38K | +151% | |||
| 110 | — | LAUNCHPAD CADENZA ACQU CORP - USD CL A ORD SHS | — | $389K | 0.1% | 39K | +680% | |||
| 111 | $MKLY | McKinley Acquisition Corp | Financials | $388K | 0.1% | 38K | +157% | |||
| 112 | $NOEM | CO2 Energy Transition Corp. | Financials | $376K | 0.1% | 36K | New | |||
| 113 | $LPRO | Open Lending Corp | Financials | $375K | 0.1% | 121K | New | |||
| 114 | $PEN | Penumbra Inc | Healthcare | $369K | 0.1% | 1,170 | — | |||
| 115 | $NOW | ServiceNow, Inc. | Technology | $367K | 0.1% | 3,700 | — | |||
| 116 | $RAMP | LiveRamp Holdings, Inc. | Technology | $365K | 0.1% | 9,700 | New | |||
| 117 | — | SOREN ACQUISITION CORP - USD CL A ORD SHS | — | $363K | 0.1% | 37K | +632% | |||
| 118 | $IHS | IHS Holding Ltd | Communication Services | $361K | 0.1% | 44K | +9% | |||
| 119 | $TALK | Talkspace, Inc. | Healthcare | $360K | 0.1% | 69K | +88% | |||
| 120 | $RTAC | Renatus Tactical Acquisition Corp I | Financials | $360K | 0.1% | 34K | +53% | |||
| 121 | $BUR | Burford Capital Ltd | Financials | $356K | 0.1% | 87K | -83% | |||
| 122 | $IACO | Idea Acquisition Corp. | Financials | $347K | 0.0% | 35K | New | |||
| 123 | $STEL | Stellar Bancorp, Inc. | Financials | $346K | 0.0% | 8,800 | New | |||
| 124 | $AACB | Artius II Acquisition Inc. | Financials | $341K | 0.0% | 33K | New | |||
| 125 | $FACT | FACT II Acquisition Corp. | Industrials | $339K | 0.0% | 32K | New | |||
| 126 | $DTSQ | DT Cloud Star Acquisition Corp | Financials | $339K | 0.0% | 30K | New | |||
| 127 | $CHEC | Chenghe Acquisition III Co. | Financials | $339K | 0.0% | 33K | +234% | |||
| 128 | — | VINE HILL CAP INVTS CORP II - CL A | — | $338K | 0.0% | 34K | +36% | |||
| 129 | — | ARMADA ACQUISITION CORP III - ORD SHS CL A | — | $337K | 0.0% | 34K | New | |||
| 130 | $ADBE | ADOBE INC. | Technology | $308K | 0.0% | 1,500 | — | |||
| 131 | $RNGT | Range Capital Acquisition Corp II | Financials | $307K | 0.0% | 30K | +76% | |||
| 132 | $FSEA | First Seacoast Bancorp, Inc. | Financials | $300K | 0.0% | 18K | New | |||
| 133 | $SOCA | Solarius Capital Acquisition Corp. | Financials | $296K | 0.0% | 29K | +13% | |||
| 134 | $BHF | Brighthouse Financial, Inc. | Financials | $291K | 0.0% | 4,600 | +48% | |||
| 135 | $GBTG | Global Business Travel Group, Inc. | Consumer Discretionary | $290K | 0.0% | 31K | New | |||
| 136 | $CAII | Collective Acquisition Corp. II | Financials | $284K | 0.0% | 28K | New | |||
| 137 | $TACH | Titan Acquisition Corp. | Financials | $274K | 0.0% | 26K | -28% | |||
| 138 | $BCSS | Bain Capital GSS Investment Corp. | Financials | $273K | 0.0% | 27K | +166% | |||
| 139 | $ITRG | Integra Resources Corp. | Materials | $267K | 0.0% | 120K | — | |||
| 140 | $DAAQ | Digital Asset Acquisition Corp. | Financials | $265K | 0.0% | 26K | New | |||
| 141 | $SLAB | SILICON LABORATORIES INC. | Technology | $262K | 0.0% | 1,200 | +20% | |||
| 142 | $IRHO | Iron Horse Acquisition II Corp. | Financials | $259K | 0.0% | 26K | +416% | |||
| 143 | $NATH | NATHANS FAMOUS, INC. | Consumer Discretionary | $254K | 0.0% | 2,500 | -71% | |||
| 144 | $ELME | Elme Communities | Real Estate | $248K | 0.0% | 167K | New | |||
| 145 | $DBRG-PH | DigitalBridge Group, Inc. | Financials | $248K | 0.0% | 16K | -47% | |||
| 146 | $NSTS | NSTS Bancorp, Inc. | Financials | $245K | 0.0% | 18K | New | |||
| 147 | $TMHC | Taylor Morrison Home Corp | Industrials | $244K | 0.0% | 3,400 | New | |||
| 148 | $SILA | Sila Realty Trust, Inc. | Real Estate | $240K | 0.0% | 7,898 | New | |||
| 149 | $WOLF | WOLFSPEED, INC. | Technology | $238K | 0.0% | 4,940 | -80% | |||
| 150 | $BLZR | Trailblazer Acquisition Corp. | Financials | $237K | 0.0% | 23K | +135% |
What changed in Q2 2026
Against the previous quarter's 13F: 66 new, 84 added to, 43 trimmed, 79 sold out. Share-count changes; largest moves by dollar size first.
New positions (66)
first bought this quarter
- TEUCRIUM COMMODITY TR - WHEAT FD$15.3M
first bought this quarter
$IRTCiRhythm Holdings, Inc.$10.2M
first bought this quarter
$OMCLOMNICELL, INC.$3.6M
first bought this quarter
$CPCANADIAN PACIFIC KANSAS CITY LTD/CN$2.3M
first bought this quarter
$AMZNAMAZON COM INC$1.5M
first bought this quarter
+60 more in the Excel export
Added to (84)
now $29.5M · held 2 qtrs, 2 adds in a row
now $64.9M · held 4 qtrs, 4 adds in a row
now $60.9M · held 3 qtrs, 3 adds in a row
now $14.4M · held 10+ qtrs, 4 adds in a row
$PPLTabrdn Platinum ETF Trust+400%
now $11.3M · held 10+ qtrs
now $16.7M · held 10+ qtrs
+78 more in the Excel export
Trimmed (43)
$DUKDuke Energy CORP-100%
now $102K
$MDAMDA Space Ltd.-58%
now $7.6M · held 2 qtrs
$TSATTelesat Corp-39%
now $11.0M · held 5 qtrs, 2 trims in a row
now $40.7M · held 7 qtrs
now $26.9M · held 6 qtrs
$BURBurford Capital Ltd-83%
now $356K · held 10+ qtrs
+37 more in the Excel export
Holdings by quarter
Every 13F PenderFund Capital Management Ltd. has filed, 34 earlier quarters. Pick one to see what it held then.
Is it too late to follow PenderFund Capital Management Ltd.?
Q2 2026 13F filed with the SEC on Aug 17, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of PenderFund Capital Management Ltd.'s top 20 holdings: 41/100 (our AI quality score, weighted by position size; 14 of the 20 are scored)
Top 10 since filing
-13.8%
Value-weighted move of the 10 largest stock positions
Turnover
32%
Last quarter; 96% over the last 4
Top 10 weight
52%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
69%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
PenderFund Capital Management Ltd. disclosed 231 positions worth $780.1M in its Form 13F-HR for Q2 2026, led by $NOG (NORTHERN OIL & GAS, INC.) at 8.3% of the equity portfolio, followed by $FLNC and $AG. During the quarter the fund opened 66 new positions and exited 79 — including a new stake in $VERX. The portfolio is most concentrated in Technology (35.6% of disclosed assets). All figures are sourced directly from PenderFund Capital Management Ltd.’s Form 13F-HR filing with the SEC under CIK 1706164.
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